Bitcoin Price Prediction: BTC/USD at Risk of Falling Below $30,000 After Losing Critical Support
![](https://cryptochaperone.com/wp-content/uploads/BTCUSD_1D_19012021-1024x558.png)
Bitcoin (BTC) Price Prediction – January 21
BTC/USD is trading below the moving averages and the coin is likely to remain beneath with a few downward moves.
BTC/USD Long-term Trend: Bullish (Daily Chart)
Key levels:
Resistance Levels: $38,500, $40,500, $42,500
Support Levels: $27,500, $25,500, $23,500
It is safe to say that BTC/USD has been turbulent in recent days, after tight trading for a few days with relatively low volatility. A few days ago, the Bitcoin price rose sharply by moving above the resistance levels of $40,500 and $41,500 against the US dollar. The coin even exceeded $41,800 levels before correcting lower. At the moment, the price is declining as it is currently trading below the 9-day and 21-day moving averages at $31,912.
Would Bitcoin Go Up or Remain as the Downside?
Looking at the daily chart, a crucial uptrend could probably form above the moving averages, with support close to $30,500 on the daily chart. However, if the decline occurs below the lower boundary of the channel, the market price could extend its downward correction to the $29,500 level and any other loss could possibly push the price of Bitcoin to the support level of $29,000.
At the time of writing, the Bitcoin price had dropped slightly to $30,800. A further drop may cause the market to reach the critical supports at $27,500, $25,500, and $23,500. In other words, if the market were to rebound, we could see the next buying pressure towards the resistance levels of $38,500, $40,500, and $42,500. Meanwhile, BTC now maintains a bearish trend on the daily chart, with the RSI (14) moving below 50-level.
BTC/USD Medium-Term Trend: Bearish (4H Chart)
Looking at the 4-hour chart, Bitcoin’s price is currently trading around $32,092 and below the 9-day and 21-day moving averages after falling from $35,628 where the coin touched today. From a technical point of view, the trend is in the hands of the sellers.
![](https://insidebitcoins.com/wp-content/uploads/2021/01/BTCUSD_4H_19012021.png)
The technical indicator RSI (14) is retreating even though it had not reached the lower boundary of the channel. Meanwhile, as long as the downward trend continues, keeping Bitcoin above $40,000 maybe a little bit tedious. In this case, it is best we look at possible support levels, starting at $30,000 and below. While the resistance lies at $34,500 and above.